Sue Reay, chairman of the selectboard, had recused herself from the discussions and process, citing a conflict, and another select board member, Valarie Pomerleau, voted against the contract and did not sign it.

P. Greg Durgin, board vice chairman, headed the negotiations for the board, and signed the contract, along with board members Lawrence Dunn, and Allen Curtis.

“We arrived at the terms through a negotiation process that started in early December 2013 and was completed (Thursday) night after final review of the contract by the town’s legal counsel,” Pakulski said.

The contract expires July 31, 2015.

Pakulski, who lives in Wayne, has been Readfield’s town manager since November 2003.

Pakulski said both he and the board are looking at preparing a budget for the coming year that avoids any municipal tax raise and trying to compensate for any increased expenses that may arrive from the school side.

The current municipal budget is almost $3.1 million, including the county tax. The property tax rate of $18.20 per $1,000 worth of value, also supports some $3.1 million for the schools.

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